As a result of the rapidly-evolving Coronavirus (COVID-19) situation, there have been several economic disruptions that have impacted the hospitality industry including the cancelation of public events, the shutdown of major tourist destinations, global travel restrictions, the transition to remote workforces, and limited foot travel through major transportation hubs.
As you can understand, these disruptions pose unique challenges for my business which is affecting my ability to pay debts, payroll, accounts payable, and other overhead expenses. My customer base mainly consists of [[corporate, tourism, etc.]]and since restrictions were imposed, my occupancy has declined by [[X%]]. Our Hotel employs over [] employees, these employees depend on our business for their livelihood.
I understand that this will be a short-term disruption, but in the best interest of our investment, I wish to keep the communication as open as possible and humbly request financial relief in the form of a temporary deferment or any assistance you can offer. [[SBA - PLEASE DELETE]] Our ask is up to 6 months for payment deferral [[OR CONVENTIONAL LOAN]] Our ask is up to 6 months of interest only payments.
We are committed to our business and our employees and look forward to finding a solution together.
[[Neal Patel - AAHOA Secretary]]
Email template created by Rick Patel - President (GRP Capital) and Neal Patel (AAHOA - Secretary). Please use your discretion and feel your bank out first. This is our ask, let’s see what they come back with.